Jay Gould pooh-poohed the latest rumor.

The boy awaited developments.
On Sunday afternoon, Edward's Sunday-school teacher asked the boy to walk home with him, and on reaching the house took him into the study and asked him whether he felt justified in putting all his savings in Western Union just at that time when the price was tumbling so fast and the market was so unsteady.

Edward assured his teacher that he was right, although he explained that he could not disclose the basis of his assurance.
Edward thought his teacher looked worried, and after a little there came the revelation that he, seeing that Edward was buying to his limit, had likewise done so.

But the broker had bought on margin, and had his margin wiped out by the decline in the stock caused by the rumors.

He explained to Edward that he could recoup his losses, heavy though they were--in fact, he explained that nearly everything he possessed was involved--if Edward's basis was sure and the stock would recover.
Edward keenly felt the responsibility placed upon him.